c20 economist suntribune june 8 1988 economistsun the tribune s v 0 v ggg f t jihw wb- i w f y bu 2i 1 r home of the week this unusual 3200 square foot home in unionville is the econom ist and suntribune home of the week its listed with royal lepage at 444900 features include a sunken living room with cathedral ceiling and fireplace the main floor also includes a den or office with hardwood floors dining room family room twopiece powder room kitchen and main floor laundry room theres a walkout from the breakfast area the spiral staircase leads to the second floor where there are four bedrooms the master suite in cludes a retreat full ensuite with two sinks walk in closet and sepa rate makeup area one of the addi tional bedrooms is sunken with sloped ceilings the basement is finished with a recreation room a bedroom and a music room for more information about this home contact barbara holligan at 4714800 commissions earned real estate group says over the past two weeks a series of stories have appeared in some media accusing real estate boards of fixing commission rates among their members and charg ing that real estate brokers and salespeople do not earn their commission fees these stories are based in large part on innuendo and ignor ance of how the real estate profes sion operates says james a cathcart president of the 40000 member ontario real estate association real estate boards in ontario do not set commission rates for their members it is true that the federal government is conduct ing an investigation of some real estate boards however it should be borne in mind that an inves tigation is just that an inves tigation not one real estate board in canada has been charged with price fixing let alone convicted members of real estate boards in ontario have over a period of many years perfected one of the finest systems of marketing real estate in the world and that mls system is valued highly by ven dors purchasers and realtors alike the ontario real estate asso ciation believes that everyone in cluding real estate boards is pre sumed innocent until proven guil ty stories that suggest the oppo site only serve to damage the reputation of real estate boards and realtors and result in reduc ing the publics confidence real estate commissions are negotiable in the province of ontario they are not set by real estate boards real estate firms often set a commission rate for their own firm vendors are free to list property with the firm of their choice comments respecting realtors not earning their commissions would not as a general rule be worthy of comment unfortunate ly if such stories go unchal lenged some people may start to believe them the majority of realtors earn less then 30000 a year and they work long hours including nights and weekends to do it wendy bel 2941372 umonviue starter first ad 195000 a special new listing dotghtful 3 bdrm 2 storey with fin bsmt fireplace upgrades galore and a front window a beauty wendy bel 2941372 stouffville starter spotless 2 bdrm with large master wafcout out to private deck garden large eatin kitchen with bu3tins sep dining walk to shops 179900 jeannine sheridan 6404151 or 6404101 toronto dlrknt4ol1sl ml albtrt47j3x 1 1 4 imm smo wml stouflvaw onurlo uh 1 lo n hot go bus at door located approx 7 mi southwest of uxbridge in the hamlet of goodwood 8 room home allows plenty of room for the growing family large lot 70 x 140 direct dial to toronto listed at 184500 bev sefton 6404151 n toronto dik16mui ui albert 43300 llilvrultor c imimmstramwmlstourmmonttrlouhho sckvlngouhcouuunhysinctls when two firms are involved in a transaction the commission paid by the vendor is normally split four ways typically the list ing salesperson responsible for selling a property receives 25 per cent of the total commission paid to earn 30000 per year a salesperson must sell not just list one home valued at 200000 each month at a five per cent com mission rate from that income the sales person deducts taxes automobile costs and operating expenses advertising and the cost of be nefits like ohip life insurance and pension plan real estate firms have the same expenses as most other types of companies including rent personnel stationary etc profit margins for real estate firms tend to be under 10 per cent suggestions that realtors drive up the cost of housing are simply unfounded realtors provide a valuable service by getting the best possible price for the vendors property very few vendors will agree to lower the selling price for their property if the realtors low ers the commission finally every time the market in a particular area becomes hyperactive as it is around met ropolitan toronto at present the myth that homes sell them selves starts again anyone who has ever tried to sell their homes themselves knows that isnt true the vast majority of property owners in ontario use the services of a realtor when they decide to sell their property they under stand and appreciate the profes sional service that realtors pro vide they appreciate the fact that realtors adhere to a strict code of ethics and are a re spected part of virtually every community in ontario realtors have earned the trust and respect of the people of ontar io over a great number of years and all realtors arc truly sad dened that recent comments by one or two individuals have re duced that trust and respect if even by a small amount